Morgan Stanley Pays $12.5M To Settle FINRA Claims

Law360, New York (September 27, 2007, 12:00 AM EDT) -- Morgan Stanley & Co. has agreed to pay $12.5 million to settle allegations that the firm failed to provide e-mails and supervisory materials to regulators and claimants in arbitration proceedings.

On Thursday, the Financial Industry Regulatory Authority revealed that it had reached a settlement agreement with Morgan Stanley, putting to rest claims filed by the National Association of Securities Dealers against the firm in December. Morgan Stanley agreed to pay $9.5 million to be distributed to two groups of customers who had arbitration claims against the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.